Atlantic City’s collapse may be MGM National Harbor’s gain.
MGM Resorts International (NYSE: MGM) CEO James Murren told CNBC’s “Power Lunch” program on Thursday that the 1 million-square-foot National Harbor resort scheduled to open in December will not only benefit, at least on the staffing side, from Atlantic City’s downward spiral, but it may also further wound the New Jersey city’s economy.
“It’s not going to help the underperforming properties, that’s for sure,” Murren said. “What we’re seeing happen is many of the dealers and employees are applying to work at National Harbor. We’ll probably have 60,000 applications for the 4,000 new jobs were adding in Maryland.”
“It’s not going to help the underperforming properties, that’s for sure,” Murren said. “What we’re seeing happen is many of the dealers and employees are applying to work at National Harbor. We’ll probably have 60,000 applications for the 4,000 new jobs we’re adding in Maryland.”
MGM has a stated goal that 40 percent of the National Harbor resort’s workforce will be Prince George’s County residents. Murren’s comments suggest there will be fierce competition from inside and out of the Free State.